HANOI: The construction industry is estimated to expand at around 7.8% to 8.2% this year, the highest rate since 2020, according to a Construction Ministry report.
The ministry’s chief officer Ngo Lam said that the construction industry had significantly contributed to the overall economic growth this year.
The sector contributed around 6.4% to 7.3% to the country’s gross domestic product. The urbanisation rate was 44.3%, higher than the National Assembly’s target of 43.7%.
Lam said that improving the institutions was the spotlight this year, with the National Assembly’s approvals for the Law on Housing and the Law on Real Estate Business to take effect on Aug 1, 2024 instead of Jan 1, 2025 and the Law on Urban and Rural Planning. — Viet Nam News/ANN
